First-Time Home Buyer Programs in Connecticut

Connecticut Housing Finance Authority (CHFA) Programs:

CHFA First-Time Homebuyer Program:

Eligibility: Targets first-time homebuyers (no homeownership in the past three years) or buyers in targeted areas of Connecticut.
Offerings: Provides a 30-year fixed-rate mortgage (FHA, VA, USDA, or conventional) at below-market interest rates; can be paired with down payment assistance.
Requirements:

• Income must not exceed county-specific limits (e.g., $148,400 in Fairfield County as of 2025).
• Minimum credit score of 620 (higher for conventional loans).
• Debt-to-income ratio typically capped at 45%.
• Homebuyer education course required for all first-time buyers.

Down Payment Assistance Program (DAP):

Benefits: Offers a low-interest second mortgage of $3,000 to $20,000 for down payment and closing costs; repayable over 30 years alongside the CHFA first mortgage.
Eligibility: Must use a CHFA first mortgage; income and purchase price limits apply (e.g., $536,800 for a single-family home in non-targeted areas).

Time To Own Loan Program:

Description: Provides up to $50,000 as a 0% interest, forgivable second loan (10% forgiven annually over 10 years) for down payment and closing costs; aimed at low- and moderate-income buyers.
Requirements: Must pair with a CHFA mortgage; income must not exceed 115% of area median income (AMI).

Local Programs:

Hartford

HouseHartford Homebuyer Assistance Program: Offers up to $40,000 as a 0% interest, deferred loan (due on sale or refinance) for first-time buyers in Hartford; income must not exceed 80% AMI.

New Haven

Homeownership Assistance Program: Provides up to $25,000 as a forgivable loan (forgiven after 5 years) for down payment and closing costs; targets first-time buyers with incomes at or below 80% AMI in New Haven.

Bridgeport

First-Time Homebuyer Down Payment Assistance: Offers up to $20,000 as a 0% interest, deferred loan for first-time buyers; income must be at or below 80% AMI, and properties must be within Bridgeport city limits.

Additional Information:

• CHFA Homebuyer Mortgage Program for Heroes: Offers reduced interest rates for veterans, active-duty military, police, teachers, and healthcare workers; must meet first-time buyer or targeted area criteria.
• USDA and VA Loans: Zero-down payment options for rural areas (USDA) or veterans/active military (VA).
• FHA Loans: Minimum 3.5% down payment, suitable for credit scores as low as 580 (10% if below 580).